Ledgerx Raplaces troubles Silvergate with a signature bank (report)

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Von Krypto News Österreich

LedgerX – Kryptowährungsderivatebörse und eine Tochtergesellschaft des zusammengebrochenen Giganten FTX – wird Berichten zufolge seine Partnerschaft mit der Silvergate Bank beenden. Es forderte die Benutzer auf, Überweisungen über die in New York ansässige Signature Bank zu erhalten. Wechsel zu einem anderen Partner Laut einer Berichterstattung von Bloomberg unterschied sich LedgerX von dem umkämpften Finanzinstitut, das sich auf Kryptowährungen konzentriert – der Silvergate Bank. Es riet Kunden, es ab dem 1. März nicht mehr für den Empfang von Inlandsüberweisungen zu verwenden. LedgerX wird seine bestehende Partnerschaft mit der Signature Bank verdoppeln und den Kunden sagen, dass sie letztere für solche Dienstleistungen …
LedGerx - cryptocurrency derivative exchange and a subsidiary of the collapsed giant FTX - will report on his partnership with Silvergate Bank. It asked the users to receive transfers via the Signature Bank based in New York. Change to another partner, according to Bloomberg reporting, differed by the competitive financial institution, which focuses on cryptocurrencies - the Silvergate Bank. It advised customers to no longer use it for the reception of domestic transfers from March 1st. LedGerx will double his existing partnership with the Signature Bank and tell customers that they are the latter for such services ... (Symbolbild/KNAT)

LedGerx-cryptocurrency derivative exchange and a subsidiary of the collapsed giant FTX-will report his partnership with Silvergate Bank.

It asked the users to receive transfers via the Signature Bank based in New York.

Change to another partner

According to Bloomberg reporting, Ledgerx differentiated from the competitive financial institution, which focuses on cryptocurrencies-the Silvergate Bank. It advised customers to no longer use it for receiving domestic transfers from March 1st.

LedGerx will double its existing partnership with the Signature Bank and tell customers that they should use the latter for such services.

The Signature Bank said that it would reduce her commitment in the cryptocurrency industry by the end of 2022. It stopped Implementation of Fiat-to-crypto transactions worth less than $ 100,000 for Binance at the beginning of this year.

"Although we cannot comment on certain customers, we are still in the business with deposits for digital assets," said Signature Bank in terms of cooperation with LedGerx.

LedGerx is one of the few surviving companies under the roof of the bankrupt giant FTX. It received the approval of the US Commodity Futures Trading Commission and was bought by FTX US in October 2021. Ledgerx even tried to register with the CFTC, but withdraw his intentions shortly after relegation of the idea of ​​SBF.

The stock exchange has attracted the attention of several industry players who might be interested in their takeover, including Gemini and Blockchain.com. The first commandments were due on January 25th, while the final auction is planned for March 7th.

Problems of Silvergate

The hectic end of 2022, highlighted by the FTX bankruptcy in November, a massive loss of $ 1 billion for silver Capital (the parent company of Silvergate Bank) in the 4th quarter. There was also a decline in cryptocurrency customers: from 1,677 on September 30, 2022 to 1,620 at the end of December. Another main factor that was responsible for the problems of Silvergate was the $ 20 million Engagement of Blockfi.

The crypto-related bank started the year on the wrong foot, burn about 40 % of the or the task of several projects.

Also the US senators Elizabeth Warren, Roger Marshall and John Kennedy Probably Silvergate, insider knowledge too have.

"Both the congress and the public need and deserve the necessary information to understand the role of Silvergate in the fraudulent collapse of FTX, especially in view of the fact that Silvergate 2022 turned to the Federal Home Bank as the lender of the last instance," said the politicians at the time.

Selected image with the kind permission of Crain’s New York Business

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